Method and system for identity theft prevention, detection and victim assistance

• US 20060080230A1
• Filed: 09/30/2004
• Published: 04/13/2006
• Est. Priority Date: 09/03/2004
• Status: Abandoned Application

• Current Assignee: Citicorp Credit Services Incorporated (Citigroup Incorporated)
• Original Assignee: Citicorp Credit Services Incorporated (Citigroup Incorporated)
• Inventors: Freiberg, Steven
• Application Number:
  US10/953,591
• Publication Number:
  US 20060080230A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method and system that offers an identity theft prevention/detection service combined with a comprehensive victim assistance program. The identity theft prevention/detection service includes electronically monitoring an account associated with a customer for potential fraudulent activity. During the monitoring, potential fraudulent activity related to the account can be identified using fraud indicators. Once fraudulent activity is determined, the identity of the customer associated with the account can be verified. The verification can be done using information obtained from the customer with information obtained from the account associated with the customer. A credit report can be obtained and reviewed with the customer and a credit specialist. The credit specialist can be associated with a credit bureau or a commercial bureau. After reviewing the credit report, the case specialist can assist the customer in rectifying the fraudulent activity.

Claims

1. A method comprising:

electronically monitoring at least one account associated with a customer for potential fraudulent activity;

identifying potential fraudulent activity related to the account based on one or more fraud indicators;

verifying identity of the customer associated with the account;

reviewing a credit report with the customer and a credit specialist, wherein the credit specialist is associated with a credit bureau or a commercial bureau; and

assisting the customer to rectify the fraudulent activity.

2. The method of claim 1 wherein identifying potential fraudulent activity based on one or more fraud indicators comprises the use of a fraud scoring system.

3. The method of claim 1 wherein the one or more fraud indicators are indicators from one of a Known Fraud Indicator System (KFIS) and at least one Issuer Clearing Service (ICS) alert.

4. The method of claim 1 wherein electronically monitoring comprises comparing known fraudulent addresses in a Known Fraud Indicator System (KFIS) database with an address in a new application filed on behalf of a customer.

5. The method of claim 1 wherein electronically monitoring comprises comparing known fraudulent telephone numbers in a Known Fraud Indicator System (KFIS) database with a telephone number in a new application filed on behalf of a customer.

6. The method of claim 1 wherein electronically monitoring at least one account for potential fraudulent activity comprises monitoring for at least one of internal collusion, transaction activity, high risk requests, account changes, balance transfer check request, credit, collusive credit bureau inquiries, billing address and shipping address mismatches, and store applications from high risk stores.

7. The method of claim 1 wherein verifying identity of the customer associated with the account comprises accessing the account associated with the customer and verifying information from the customer with specific information in the account.

8. The method of claim 1 wherein assisting the customer to rectify the fraudulent activity comprises recording discrepancies in the credit report.

9. The method of claim 1 wherein assisting the customer to rectify the fraudulent activity comprises removing discrepancies in the credit report.

10. The method of claim 1 wherein assisting the customer to rectify the fraudulent activity comprises assisting the customer in contacting creditors.

11. A system for mitigating the effects of identity theft, the system comprising:

a fraud detection unit configured to electronically monitor at least one account associated with a customer for potential fraudulent activity using one or more fraud indicators;

a telephone network configured to allow communication between the customer and a case specialist; and

a computer network configured to provide access to account information associated with the customer and access to a credit report associated with the customer, wherein the case specialist verifies identify of the customer using the account information, reviews the credit report with the customer and a credit specialist via the telephone network, and assists the customer to rectify the fraudulent activity.

12. The system of claim 11 wherein the credit specialist is associated with a credit bureau or a commercial bureau.

13. The system of claim 11 wherein the one or more fraud indicators are indicators from one of a Known Fraud Indicator System (KFIS) and at least one Issuer Clearing Service (ICS) alert.

14. The system of claim 11 wherein electronically monitoring comprises comparing known fraudulent addresses in a Known Fraud Indicator System (KFIS) database with an address in a new application filed on behalf of a customer.

15. The system of claim 11 wherein electronically monitoring comprises comparing known fraudulent telephone numbers in a Known Fraud Indicator System (KFIS) database with a telephone number in a new application filed on behalf of a customer.

16. The system of claim 11 wherein electronically monitoring at least one account for potential fraudulent activity comprises monitoring for at least one of internal collusion, transaction activity, high risk requests, account changes, balance transfer check request, credit, collusive credit bureau inquiries, billing address and shipping address mismatches, and store applications from high risk stores.

17. The system of claim 11 wherein verifying identity of the customer associated with the account comprises accessing the account associated with the customer and verifying information from the customer with specific information in the account.